Fitzwilliam enjoys 10th anniversary

Fitzwilliam – the longest-running fund in the IMA’s balanced managed sector – is managed by BDO Stoy Hayward Investment Management investment director Sharon Segal and is now £78.8m in size.

It has returned 14.5 per cent against a sector average of 13.8 per cent over one year, 14.1 per cent against a sector average of -2.4 per cent over five years and 108.1 per cent against a sector average of 82.9 per cent since launch.

The fund offers a concentrated portfolio that is actively managed and can include combinations of equities, bonds and cash. Asset allocation is used for geographic and sector positioning. It seeks to provide long-term capital growth by active management of a diversified medium-risk portfolio of global equities and fixed-interest securities.

Segal says the approach of the fund is active, pragmatic and based on the judgement of fund managers working to know their clients exhaustively.

Nicholas Macpherson has been appointed Permanent Secretary to the Treasury, succeeding Sir Gus O’Donnell. Macpherson was previously managing director of the budget and public finance directorate and before that was head of the public services directorate. He has 20 years’ experience in the civil service

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